Reports Assess Health, Fitness Device Markets Through 2019
March 30, 2015 in News
Specifically, researchers estimate that revenue from such devices will increase from $320 million in 2015 to $1.8 billion in 2019.
The researchers predicted that revenue growth will be driven by the use of “freemium” models, which provide a basic application at no-cost but charge for more advanced features, such as data analysis.
Further, researchers predicted that 12.9 million individuals will use such paid services platforms by 2019.
Moving forward, study author James Moar wrote that “device vendors will have to rely on more innovative software to drive engagement beyond mere measurement” (Comstock, MobiHealthNews, 3/24).
Devices Revenue Slated To Increase
Meanwhile, a separate report by Parks Associates found that revenue for connected health and fitness tracking devices in the U.S. is expected to increase from $2 billion in 2014 to $5.4 billion in 2019 (Pai, MobiHealthNews, 3/25).
The report examined current adoption and usage rates for connected devices and analyzes several national surveys of U.S. broadband households (Parks Associates release, 3/25).
According to Harry Wang, director of health and mobile product research at Parks Associates, adoption of connected health devices among U.S. broadband households increased from 24% at the beginning of 2013 to 30% at the end of 2014.
Wang said the “most popular” devices were:
- Exercise equipment with built-in app support; and
- Digital pedometers with wireless connectivity (MobiHealthNews, 3/25).